Novig filed a federal lawsuit against New York regulators one day after launching its prediction markets in 47 states. The platform seeks a preliminary injunction to prevent Attorney General Letitia James and the New York State Gaming Commission from interfering with its sports event contracts. New York has sued several prediction market operators, including Kalshi and Coinbase Financial Markets, alleging they operate illegal gambling platforms. State officials aim to restrict prediction market sites that launched through Commodity Futures Trading Commission approval without state licensure. Novig argues its federally regulated event contracts differ from traditional sports betting. The company previously operated as a state-licensed sportsbook in Colorado before transitioning to sweepstakes and then prediction markets, offering exclusively sports markets.

US sports betting app Novig hires ex-CFTC lawyer as chief regulatory and legal affairs officer. Elie Mishory will work alongside chief legal officer Alex Wolf 24 June 2026 Elie Mishory US sports prediction platform Novig has hired Elie Mishory as chief regulatory and legal affairs officer following the company receiving approval from the US Commodity Futures Trading Commission (CFTC) as a 'designated contract market', allowing it to operate across all 50 US states. Mishory most recently worked for the Elon Musk-led Department of Government Efficiency, acting as its representative at the US Securities and Exchange Commission. At Novig, he will oversee its regulatory, compliance and public policy functions to support its efforts to expand nationwide. He will work alongside chief legal officer Alex Wolf. New York-based Novig is a sports betting app that allows users to bet on sports results against other users. Advertisement Jacob Fortinsky, co-founder and CEO of Novig, said: "Elie has been at the centre of the most consequential regulatory developments in prediction markets - he helped bring them from a fringe idea to the centre of the national conversation. "Elie jokes that if you hate legal prediction markets, he's happy to take the blame. That conviction is exactly why we wanted him at Novig: he believes, as we do, that transparent, compliant markets should reward skill. As we build the regulated exchange for sports and the financial contracts that follow, Elie will be central to getting the hardest part right." Prior to his most recent spell in public service, Mishory was chief regulatory office and general counsel at derivatives exchange Kalshi. He previously worked at the CFTC, including as acting associate director of its Division of Market Oversight. LAW OVER BORDERS COMPARATIVE GUIDES Private Client Law Guide This second edition, written by leading private client legal specialists, provides an up-to-date juri... | 1yr. Before that, he was an attorney at the IRS in the office of chief counsel, having started his legal career as a law clerk at Ober Kaler. Mishory said: "I joined Novig because this is the team best positioned to build the future of regulated sports trading. Jacob and Kelechi [Ukah] have built a world-class team of sports traders who are also world-class market builders, engineers, lawyers and operators. This team understands sports trading from the inside, and it is building a platform for sports traders, by sports traders." Back in March 2024, gambling machine-maker Inspired Entertainment hired Simona Camilleri as GC from sports betting software-provider Sportingtech, replacing Carys Damon in the role.